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Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives Average Rating of "Buy" from Brokerages

Ligand Pharmaceuticals logo with Medical background

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) have earned a consensus rating of "Buy" from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $146.14.

Several research firms recently weighed in on LGND. Wall Street Zen cut Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Oppenheimer boosted their price objective on Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a research report on Thursday, April 10th. They set a "buy" rating and a $143.00 price objective for the company.

Check Out Our Latest Analysis on Ligand Pharmaceuticals

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza purchased 1,500 shares of the business's stock in a transaction on Friday, May 9th. The stock was purchased at an average price of $104.06 per share, with a total value of $156,090.00. Following the acquisition, the chief financial officer directly owned 27,932 shares in the company, valued at approximately $2,906,603.92. The trade was a 5.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Reardon sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $104.00, for a total value of $104,000.00. Following the completion of the transaction, the insider directly owned 32,903 shares of the company's stock, valued at approximately $3,421,912. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,000 shares of company stock valued at $218,310 in the last quarter. Corporate insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 1st quarter worth approximately $32,000. GF Fund Management CO. LTD. acquired a new position in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $43,000. Smartleaf Asset Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock worth $43,000 after buying an additional 221 shares in the last quarter. Redwood Park Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $48,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 825.4% in the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock worth $59,000 after buying an additional 487 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Price Performance

NASDAQ:LGND traded up $0.73 during trading hours on Friday, reaching $114.39. The company's stock had a trading volume of 52,056 shares, compared to its average volume of 118,156. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -16.07 and a beta of 0.84. Ligand Pharmaceuticals has a one year low of $85.18 and a one year high of $129.90. The business's 50-day moving average is $108.41 and its 200-day moving average is $110.00.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The firm had revenue of $45.33 million during the quarter, compared to analysts' expectations of $37.84 million. Ligand Pharmaceuticals had a negative net margin of 73.07% and a negative return on equity of 7.83%. During the same period in the prior year, the company posted $3.84 earnings per share. On average, sell-side analysts predict that Ligand Pharmaceuticals will post 1.73 EPS for the current fiscal year.

About Ligand Pharmaceuticals

(Get Free Report

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

Further Reading

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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